Okta Inc. (NASDAQ:OKTA) finished Friday with an addition of $0.86 to close at $72.23, an upside of 1.20 percent. An average of 1,397,920 shares of common stock have been traded in the last five days. There was a gain of $0.51 in the past week, and it reached a new high 1 time over the past 12 months. The last 20 days have seen an average of 1,530,100 shares traded, while the 50-day average volume stands at 1,958,538.
OKTA stock has increased by 2.73% in the last month. The company shares reached their 1-month lowest point of $68.79 on 08/18/23. With the stock rallying to its 52-week high on 05/31/23, shares of the company touched a low of $44.12 and a high of $99.68 in 52 weeks. It has reached a new high 12 times so far this year and achieved 5.71% or $3.90 in price. In spite of this, the price is down -27.54% from the 52-week high.
Insider Transactions
OKTA stock investors should be aware that Okta Inc. (OKTA) stock had its last reported insider trading activity 71 days ago on Jun 16. In this transaction, the insider spent $521,410. Chief Financial Officer, Tighe Brett, disposed of 4,380 shares at a price of $75.60 on Jun 16. The insider now owns more than $331,126 worth of shares. Prior to that, Schwartz Larissa went on to Sale 1,958 shares at $75.60 each on Jun 16. An amount of $148,024 was transacted.
Valuation Metrics
Okta Inc. (OKTA) stock’s beta is 1.01. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 5.90, the price-to-book (PB) ratio at 2.11, and the price-to-cash flow ratio at 65.28.
Financial Health
The quick ratio of Okta Inc. for the recent quarter was 2.10, and the current ratio was 2.10, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.33 and a total debt to equity ratio of 0.33 for the recent quarter. Okta Inc.’s EBITDA margin is -35.63%, while its operating margin for the same period stands at -35.80%. Its gross profit as reported stood at $1.31 billion compared to revenue of $1.86 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Okta Inc.’s return on assets was -7.60%.
Earnings Surprise
In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$119.0 million in the quarter, while revenues of -$152.92 million were shrunk -103.96%. Shareholders own equity worth $162.36 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Okta Inc. (OKTA) price momentum. RSI 9-day as of the close on 25 August was 50.82%, suggesting the stock is Neutral, with historical volatility in this time frame at 30.74%.
As of today, OKTA’s price is $72.29 +0.70% or $0.51 from its 5-day moving average. OKTA is currently trading -2.37% lower than its 20-day SMA and -13.45% lower than its 100-day SMA. However, the stock’s current price level is -2.94% below the SMA50 and +52.90% above the SMA200.
The stochastic %K and %D were 60.99% and 60.05%, respectively, and the average true range (ATR) was 2.35. With the 14-day stochastic at 58.60% and the average true range at 2.37, the RSI (14) stands at 50.50%. The stock has reached 0.32 on the 9-day MACD Oscillator while the 14-day reading was at 0.54.
Analyst Ratings
Goldman upgraded Okta Inc. (NASDAQ: OKTA) to a a Buy rating in its most recent analyst report. Previously, the stock was rated as a Sell. The consensus rating for Okta Inc. (OKTA) among analysts is Overweight. According to current brokerage recommendations, 2 brokerage firms advise that investors sell OKTA, while 13 suggest investors hold. There are 1 analyst who rate the stock as underweight. The stock is rated overweight by 2 analysts, while 24 others rate it as a “buy”.
What is OKTA’s price target for the next 12 months?
Analysts predict a range of price targets between $64.00 and $120.00, with a median target of $94.00. Taking a look at these predictions, the average price target given by analysts for Okta Inc. (OKTA) stock is $92.84.
